ICICI Bank will also offer a 'Pay Direct' card for Ola's driver partners. It will also launch a co-branded credit card with the SoftBank-backed company that will offer exclusive offers like cashbacks and accelerated reward points to customers.

"Mobility and banking, both play a key role in fostering inclusive growth and creating lasting development benefits. This alliance will provide increased convenience to customers on both the platforms, as well as hundreds of thousands of driver partners," Ola co-founder and CEO Bhavish Aggarwal said.